Synapse Developer Hub

Welcome to the Synapse Developer Hub. Here you will find comprehensive guides and documentation to help you start working with the Synapse API as quickly as possible. If you need any assistance, we are always here to help!

Monthly StatementsPlease visit our Statements API to set up monthly statements for end-users. These are required for all deposit accounts to give users full transparency into their account activity.

Note: Close a Deposit AccountTo close an account, please return funds to the user and set is_active to false and change the permissions to INACTIVE

Issue Account/Routing Number

By default, we do not issue account/routing numbers for deposit accounts. This ensures a closed loop deposit product. However, should you wish to issue an account/routing number for your account, you can issue account/routing numbers with subnets. Before doing so, please confirm that this is enabled in your controls.

We highly encourage you to use account/routing number issuance to receive funds, as there is no return risk for credits. This is especially helpful with large transactions or risky payment flows.

We also recommend using account/routing number issuance to set up direct deposit for payroll (when applicable). We have seen that users who set up direct deposit from their payroll have lower rates of churn.

Subscribe to Webhooks

Business Account Requirements

To open a business deposit account, you must supply a UBO form as part of your KYC. This document helps us identify beneficial owners per regulations. Read more here.

Negative Balance Reconciliation

We reconcile negative balances when accounts have been negative for 30 days with no successful activity. These reconciliations occur throughout the month, and funds will be debited from your reserve account to reconcile these balances. After an account has been reconciled, the user will be locked.

For example:If a user has a negative balance of -$500 and they pay +$400 toward that negative balance before the 30 day period is up, we will reset the 30 day countdown. If another 30 days passes and there is no successful activity, we will reconcile the remaining negative balance of -$100 from your reserve funds.

We recommend setting up webhooks to monitor your reserve account balance. This will help you automatically fund your reserve when it falls below your required minimum balance.

Please Note:We reconcile high risk negative balances more frequently than every 30 days. This includes negative balances greater than $2000.